Like in case the broker decides he is Lehman Brothers reincarnated and suddenly expires are we protected up to 85k of portfolio value? Cash balance?
Is there a list of somekind held by say LSE that if you run my name against it will come up with the amount of shares I own in that and this company in case broker " misplaces" their ledger.
It’s about fraud. I don’t know about the Lehmann case in particular. Brokers need to hold your assets apart from their own, so if a broker fails, your assets are unaffected anyway.
If they illegally use your assets, the FCA protection pays up to a certain amount and the people responsible go to prison for a long time.
what would greatly alleviate my concerns would be confirmation that record of our holdings of securities are " backed in the cloud " and company , LSE and HMRS knows Im a shareholder.
I really hope its not just me and my broker.
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